NJSBA Family Law Section

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  • 1.  Support guidelines question re: alternating child as tax exemption

    Posted 02-16-2015 02:30 PM
    What do you generally do regarding the number of exemptions when preparing a child support guidelines worksheet where the parties have agreed to alternate yearly taking their only child as an exemption?
     
    Do you give them each one child to make it fair, or some other process?

     Thanks in advance.

     


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    Robert Goldstein Esq.
    Manalapan NJ
    (732)972-1600
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  • 2.  RE: Support guidelines question re: alternating child as tax exemption

    Posted 02-16-2015 05:01 PM
    I generally even them out (e.g., if it would be 3 and 1 alternating years, make it 2 and 2 each year).  If it's an odd number, I round up (e.g., 4 and 1 alternating years, make it 3 and 3). Keep in mind that there's that formula in the court rules where you add an extra exemption if a custodial parent earns less than a certain amount ($70K?), but, without trying to adjust it every year, evening them out is "rough justice" and I don't think makes a huge difference in the bottom line number.

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    David Perry Davis, Esq.
    112 West Franklin Avenue
    Pennington, NJ 08534
    Voice: 609-737-2222
    Fax: 609-737-3222
    http://www.FamilyLawNJ.pro
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